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JABailout For Homeowners?
March 26, 2008
Federal assistance may be coming to bail out homeowners. Recent talk in Washington has centered on a federal plan to help homeowners burdened with high interest rate mortgages. The plan would have the Federal Housing Administration guarantee hundreds of billions of new, lower-cost loans to troubled homeowners. This, in turn, would ease the principal on many home loans and stop the current rash of foreclosures in some areas. The amount proposed for the program would be in the $30 billion range but some estimates put the figure as high as $100 billion.
